Property Manager Agreement - Massachusetts 2026

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  1. Click ‘Get Form’ to open the Property Manager Agreement in the editor.
  2. Begin by filling in the names of the Owner and Manager at the top of the document. Ensure accuracy as these details are crucial for legal purposes.
  3. In the section describing the Property, provide a detailed legal description. This may include the address and any relevant identifiers that clarify ownership.
  4. Proceed to Article 1, where you will outline how rents will be collected. Specify any deadlines for payments and ensure that all terms are clear.
  5. In Article 2, detail maintenance responsibilities. Indicate how often inspections will occur and set a budget limit for improvements requiring Owner consent.
  6. Article 3 requires you to state the compensation structure for the Manager. Clearly define whether it’s a commission, salary, or other arrangements.
  7. For Article 4, specify the term of agreement and conditions under which either party can terminate it. Be sure to include notice periods.
  8. Complete Articles 5 through 7 by providing necessary addresses for notices and ensuring compliance with applicable laws.
  9. Finally, sign and date the agreement at the bottom to make it effective. Both parties should retain a copy for their records.

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A property managers first responsibility is to protect the owners investment while maintaining its profitability. Effective property management begins with preserving the physical condition of the property.
Monthly Management Fees This service charge fee is usually a percentage of the collected monthly rent. Typical rates range from 8-12%, with 10% being most common. So, for example, if your rental property brings in $1,500 monthly rent, you would pay your property manager around $150 each month.
Massachusetts does not require a state-issued property management license. Property managers who handle leasing, rent collection, or maintenance for owners do not need to obtain a real estate broker or salesperson license if they are direct employees of the property owner.
Here are some key components that are typically included in a Management Agreement: Introduction. Definition of Services. Term and Termination. Compensation and Fees. Duties and Responsibilities of the Manager. Duties and Responsibilities of the Owner. Accounting and Financial Records. Insurance.

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